Even Healthcare secures $30M in Series A funding round led by Khosla Ventures

Bengaluru-based Even Healthcare has raised $30 million in a Series A funding round led by Khosla Ventures. The fundraise also saw participation from Founders Fund, 8VC, and Lachy Groom, among others.

According to the company, the newly-raised funds will be used to launch hospital operations and scale patient care and recourse processes.

“Consistent high-quality care, customer experience, and value will build trust and loyalty. Our health plans have grown aggressively in both B2B and B2C segments, with a 95% customer retention rate. This positions us to deliver strong results in the years ahead,” said Matilde Giglio, Co-founder of Even Healthcare.

Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare provides its members with unlimited free consultations, diagnostics tests, and other medical services through a network of owned and partner clinics and insurance partners.

The startup runs on a fee-based model where its members can get access to consultations ranging from episodic care to chronic condition treatment for an annual fee of Rs 4,800 with the choice to add on health insurance for hospital coverage.

The company added that it has grown its membership base to “hundreds of thousands” and has generated $28 million in revenue after commercially launching 1.5 years back.

“To sustain this momentum, we will continue to invest in our delivery systems, technology, and customer-friendly products. Expanding our hospital, clinic, and diagnostic networks while strengthening our team of doctors will enable us to reduce medical costs, enhance patient experience, and increase the overall value our members receive from the health system,” said Ialongo.

The company is also focusing on leveraging artificial intelligence (AI) with its recent initiative “Even Steven”, an AI-powered health assistant that offers patients medically-verified information.

“Modernized healthcare is essential to any country. Even is bringing high-quality, affordable care to one of the world’s largest populations, and we’re excited to partner with them as they boldly reimagine healthcare for India,” said Vinod Khosla, Founder of Khosla Ventures.